The steady rise in the grey fabrics price boosted the demand for polyester yarn. Following this, coupled with usual overreaction to the situation the price shot up in the market. Grey fisrt quality of medium-sized units 80dn had shot up by Rs 6 to 7 a kg but subsequently reacted by a rupee. The price of market leader roto had peaked Rs 108-109 before retreating to Rs 107-108. Micro roto rose to Rs 110-112 and weft to Rs 100-102.

In the case of 150dn, the price gained Rs 2 to 3. Weft and warp were in demand at Rs 83-84 and at Rs 93-94 respectively. Single roto and double roto both ruled at Rs 88-90.

Meanwhile, RIL has hiked the price of POY and texturised yarn once again. POY has become costlier by Rs 2 at Rs 67 for 126dn and at Rs 60 for 235dn effective from this month. Besides, a couple of days ago the price of texturised yarn grey 80dn had been jacked up by Rs 3 and that of 150dn by Rs 2. Thus, 80dn roto price has become of Rs 107, of weft Rs 102 and of GFT Rs 103. In the case of 150dn, weft and single roto have been fixed at Rs 88 and at Rs 91 respectively. Trade sources anticipate further hike in the price of the latter.

Cotton steady
A steady condition was noticed on the cotton market on reduced pressure of offerings at low level and some what better buying inquiries.

In Punjab zone, Bengal Deshi roller-ginned ruled at Rs 990-1060 a maund spot. J-34 saw-ginned good average were placed at Rs 1310-1445, cart selected at Rs 1370-1520 and roller-ginned good average at Rs 1280-1360.

Arrivals consisted of 4000 bales of Bengal Deshi and 12,000 bales of J-34.V-797 at Rs 12,000-12,300 and Sanker in the range of Rs 16,000-18,300 a candy also were maintained.

Sugar recovers
Sugar price rallied following emergence of better buying support at low level.

The price firmed up by Rs 5 to 10 a kg ex-godown while ex-octroi checkpost and mill delivery rates gained Rs 15 a quintal.

M-30 were up at Rs 1430-1480 and S-30 at Rs 1390-1430 ex-godown. Ex-octroi checkpost, the price hardened to Rs 1405-1425 and to Rs 1390-1400 respectively.In tenders, M-30 were indicated at Rs 1360-1370 and S-30 at Rs 1345-1350 in Kolhapur line.

Grains unchanged
A quiet condition was in evidence on the grains market.

Wheat North Gujarat Sonaklyan were on offer at Rs 800-825, Tukadi at Rs 830-840 and 496 at Rs 875-881 a quintal. Rice AP Kattar were on offer at Rs 1025-1050 and Cultured kolam at Rs 1300-1400. Perimal new ruled at Rs 950-975.

Among pulses, green peas USA were placed at Rs 1400 and Canadian at Rs 1050. Australian gram ruled at Rs 1300-1350. Kabuli gram A-2 were placed in the range of Rs 3600-4400.

Bullion divergent
Both the precious metals moved in a narrow range and finished on a mixed note on the bullion market here today. Standard gold looked up by Rs 5 at Rs 4,580 per 10 gm. Gold .22 carat was up by same margin at Rs 4,235 per 10 gm. on stray seasonal buying interest. Prices of gold biscuit (116.50 gm.) however slipped further by Rs 100 at Rs 53,500 per piece as fresh losses in the global market prompted selling pressure, dealers said. In the overseas market gold fell from $291.50 to $290.40 per ounce.

Meanwhile silver .999 closed Rs 5 up at Rs 8,130 per kg. on tight supplies following raids carried out by Income Tax department on the bullion dealers in the city market. Silver .916 however reacted by Rs 40 at Rs 7,960 per kg on brisk supplies of raw silver from local sources. In the internatioal market the white metal ruled quiet at $5.19/5.20 per ounce.

G'nut oil further up
Groundnut oil moved up further on the oil,oilseeds market here today. Castorseed and its oil however extended losses on continued new crop supplies as overseas buyers stayed away in the falling markets, dealers said.

Groundnut oil moved up by Rs 5 at Rs 370 per 10 kg on tight supplies and expectation of further hike in the import duty on edible oil led to the upsurge, according market sources. In Rajkot prices remained steady at Rs 608/610 per 15 kg.

Imported palm oil rose by Rs 5 at Rs 213 per 10 kg on tight supplies and speculative buying in the wake of fear of import duty hike. In the global market palm oil advanced to $382.50 per tonne before settling at $380 per tonne for nearby delivery and long deliveries were placed at $382.50 per tonne, it was learnt. Castor oil declined by Rs 5 at Rs 365/377 per 10 kg and castorseed ready was down by Rs 25 at Rs 1669/1675 per quintal.

In the future section castorseed March delivery quoted lower from Rs 1,700 to Rs 1686 before concluding at Rs 1,690 per quintal. Maturing December delivery remained untraded. Castorseed February delivery placed lower at Rs 1,672 per quintal in Ahmedabad while it closed at Rs 1,671 in Rajkot.

Castorseed spot prices eased to Rs 315/325 per 20 kg in Gujarat as new crop supplies picked up to 24000/25000 bags, it was learnt.